Divorce tips for those living in an empty nest

Overall, the divorce rate in North Carolina and throughout the country is dropping. However, for those who are 50 and older, the divorce rate has actually increased over the past 20 years according to research from Bowling Green. While older individuals may not be tasked with raising their children, adult sons and daughters may play a role in how a divorce is structured. This is because individuals may still want to see their children and grandchildren after their marriages end.

Therefore, it is important that some sort of visitation plan is worked out prior to a divorce taking effect. It is also important to consider where money will come from to continue making gifts that typically come from a joint household fund. For example, individuals will need to determine who will contribute to a grandchild’s college fund or who will pay for an adult child’s college tuition.

Individuals will also need to determine how they will provide for their own financial needs after their marriages end. It may make sense for some people to ask for alimony or other types of financial assistance from their former spouses. Often, both parties to a marriage are entitled to retirement savings accrued while a couple was together. This is typically true even if only one spouse contributed to the account during the course of the relationship.

A person who is going through a divorce may want to hire an attorney regardless of how amicable the split may be. An attorney may review a prenuptial agreement or take other steps to help a person obtain everything he or she might be entitled to in a settlement. This might include permanent or temporary alimony payments, possession of a family home or a portion of a 401(k) or other retirement accounts.